Recruitment in Scotland’s private sector has increased for the first time in four months, according to a new survey by the Bank of Scotland.
The bank’s latest Purchasing Managers’ Index (PMI) gave an optimistic outlook for future economic growth in Scotland, indicating that the manufacturing and business services sectors have both experienced modest, but promising growth.
The Bank of Scotland’s chief economist, Donald McRae, said that the numbers had been tempered by a continuing fall in new business being brought in to Scotland, but acknowledged that the employment figures were encouraging.
“November’s PMI was positive for the 11th month of this year, suggesting the private sector of the Scottish economy continues to grow across manufacturing and services,” he said. “The November PMI at 51.1 is above both the UK and the eurozone, showing the resilience of the Scottish economy.”
He added that there were significant challenges still facing them, including maintaining the growth in the face of the global slowdown, particularly as the figures did show a drop in new orders and new export orders during November. It is thought that overall rise in output levels is a result of work on backlogs.